Law as on 1st April

Tax queries 74 views 5 replies
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Memorandum to FA 2023 in certain amendments says that "applcable from 1st april 2023 thus applicable wef AY 2023-24"  ...... but amendments are for FY 2023-24 thus must be applicable from AY 2024-25 ..... pls clarify ???

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On 31 May 2023 at 17:14 Report
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SEO Sai Gr. Hosp.
196690 Points Joined July 2016

Unless specifically mentioned AY 2023-24, the phase means applicable from financial year 2023-24, i.e. AY 2024-25.

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On 01 June 2023 at 09:54
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is there some rule that law as on 1st April of A.Y. will apply to that A.Y. ??

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On 01 June 2023 at 15:30
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SEO Sai Gr. Hosp.
196690 Points Joined July 2016

Finance bill is approved by both houses and made law for (from) the next financial year......

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On 01 June 2023 at 20:02
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FA 2022 amended Sec 14A (1) ..... memo to FA says this amendment is wef 1.4.2022 & thus will apply wef AY 2022-23 & subsequent AY -- 

Q 1 -- why AY 2022-23 & not AY 2023-24

Q 2 -- AY mentioned in memo only & nothing in FA ... in FA only mentioned wef 1.4.2022 .... how will we know if it is AY 2022-23 or AY 2023-24

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On 02 June 2023 at 02:54
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SEO Sai Gr. Hosp.
196690 Points Joined July 2016

1. Specifically mentioned FROM ...

2. Memo has clarified the confusion that could have arose otherwise.

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On 02 June 2023 at 09:47


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